Whether buying or selling commercial property it is critical to have a legal team that understands the nuances as it is different to residential property.
Types of Commercial Property include:
Your commercial contract needs to take into account the following:
Is GST applicable? Is the property being sold as a going concern? Is the margin scheme to be applied? There sometimes needs to be specific special conditions that address GST – these matters are relevant from both a vendor’s and purchaser’s perspective.
Is the property leased and will it be leased at settlement?
We know how to draft Contracts and Vendors Statements that not only present well but that most importantly contain special conditions that are appropriate for your type of transaction and your type of property.
It is imperative that you have your contract reviewed by a professional who understands commercial transactions. Commercial conveyancing is different to residential conveyancing and should always be carried out by a law firm to ensure that you understand the nature of the contractual terms rather than just walking blindly into a binding contract. We strongly recommend that you obtain pre-purchase advice for this reason.
Specific set of special conditions are included in any contract of sale presented by the vendor. Savvy purchasers will take advice about these special conditions, (and other aspects of the contract and vendors statement). This will ensure that those special conditions are reasonable and don’t put you as the purchaser in an unduly risky position.
Purchasers will often want to negotiate further special conditions into the contract. For example, one such special condition could relate to a due diligence, particularly if the commercial property is a development site.
This will give the purchaser time to make an assessment of the suitability of the property for development/ redevelopment. Other special conditions can relate to such matters as pre-purchase inspections, finance clauses, the lease (if there is one) or other matters which are particular to that property.
Our team has extensive experience in commercial conveyancing. It is more complex than residential conveyancing and requires expert legal advice. We can assist you with many types of commercial property transactions. We provide sophisticated, but simple-to-understand, advice to all our commercial conveyancing clients.
We provide a through, streamlined service to both vendors and purchasers of commercial real estate. We also offer an inexpensive pre-purchase contract review service for purchasers which is very popular.
Our lawyers and conveyancers have extensive experience in complex commercial transactions.
At Conveyancing Depot, our team work hard so our clients can have a stress-free conveyance.
Contact us today on 1300 900 440 or use the online form to arrange a free commercial conveyancing quote.